CADHKD CAD/HKD
- 5.6834
- -0.0039-0.07%
CAD/HKD News
Canadian Dollar Brushes off Low-tier Data Misses to Find Mild Recovery on Friday
The Canadian Dollar (CAD) found a thin recovery on Friday, gaining ground against most of its major currency peers and clawing back a scant tenth of a percent against the US Dollar (USD).
Statistics Canada Reports Manufacturing Sales up 1.1% at $70.8B in April
The increase followed a decline of 1.8 per cent in March.
Hong Kong's High Interest Rates May Persist Due to Uncertainty of Fed Rate Cuts
The Hong Kong Monetary Authority said high interest rates may remain for some time as it is uncertain when the US Federal Reserve will cut its interest rates, according to a Thursday press release by
Canada's central bank cuts interest rates against the trend, experts call for continued adjustment of interest rate policies and vigilance against the weakness of the Canadian dollar.
The Bank of Canada stated, "Overall, recent data suggests that the economy is still running in an over-supplied situation." Only two interest rate cuts by the Bank of Canada have been priced in by the market from now until the end of this year. However, the major risk in the future is the weakness of the Canadian dollar.
Canadian Dollar Pares Away Gains on Thursday
The Canadian Dollar (CAD) pared back recent gains against the US Dollar (USD) on Thursday, shedding a quarter of a percent against the USD as market flows pull back to safety and bolster the Greenback.
BoC's Kozicki: BoC to End Quantitative Tightening in 2025
Bank of Canada (BoC) Deputy Governor Sharon Kozicki noted on Thursday that the BoC is set to end its quantitative easing program and that future applications of QE will have a very high bar to pass before accessing additional monetary policy mechanisms.
Chung Yuan Mortgage: The interest rate reduction cycle in Hong Kong may start from the end of this year to the first quarter of next year.
Wang Meifeng said that the interest rate reduction cycle in Hong Kong has the opportunity to start from the end of this year to the first quarter of next year, and then the interest rate in Hong Kong may fall to 4% or below.
Bank of Canada cuts rates ahead of time, analyst says interest rate spread may lead to depreciation of the Canadian dollar.
This week, the Bank of Canada cut its policy rate by 0.25 percentage points, but people began to question how much the gap between the key interest rates of the two countries would widen as it is expected that the Federal Reserve will hold the overnight interest rate steady until autumn.
After the Bank of Canada fired the first shot in G7's interest rate cut, the market expects at least two more rate cuts this year.
Economists predict that the Bank of Canada will cut interest rates at least twice more in 2024 and that the interest rate will fall to 4.25% or 4%.
Canadian Dollar Flattens on Thursday as Markets Await US NFP
The Canadian Dollar (CAD) settled into a holding pattern on Thursday as markets batten down the hatches ahead of Friday’s key labor data from both the US and Canada. Investors are still leaning into bets of a September rate cut from the US Federal Reserve (Fed), but chances of a push-out to November are still on the cards.
Statistics Canada Reports Country Posted $1B Merchandise Trade Deficit for April
Canada posted a merchandise trade deficit of $1.0 billion in April, as exports of natural gas and crude oil climbed higher, Statistics Canada said Thursday.
Bank of Canada's Pivot Opens Path for Others to Diverge From Fed
Bank of Canada Governor Tiff Macklem led the Group of Seven in lowering interest rates, and his confidence may help reassure other central banks that they can launch into cuts before the Federal Reserve.
The Bank of Canada cuts interest rates to 4.75%, implying further cuts in the future.
The Bank of Canada has lowered its interest rate by 0.25 percentage points, becoming the first central bank in the G7 to start a loose monetary policy cycle.
Canadian Dollar Churns on Wednesday After BoC Rate Cut
Canadian Dollar loses minor ground against Greenback after BoC rate cut.
Bank of Canada's Macklem Signals 'Gradual' Rate-Cut Path -- Market Talk
Bank of Canada Gov. Tiff Macklem says he expects interest rates to come down on a gradual basis, in line with its own inflation forecast.
As inflation enters the target range, the Bank of Canada cuts interest rates, and the Canadian dollar weakens.
After the Bank of Canada cut interest rates, it is understandable that the Canadian dollar fell among most G7 currencies, with the most notable being the rise of the US dollar against the Canadian dollar after the data release. Following a surprising increase in the US services purchasing managers' index (PMI), the US dollar was boosted and further rose.
Macklem Speech: It Is Looking Like a Soft Landing for the Economy
Tiff Macklem, Governor of the Bank of Canada (BoC), explains the BoC decision to lower the interest rate by 25 basis points to 4.75% after the June policy meeting and responds to questions from the press.
G7 countries have started lowering interest rates: Canada's central bank has cut interest rates as scheduled to 4.75%, and the governor hinted that it will continue to be accommodative.
The global interest rate reduction trend has further accelerated. On Wednesday, the Bank of Canada cut interest rates by 25 basis points, from 5% to 4.75%, in line with market expectations. The Governor of the Bank of Canada suggested that there is reason to expect further interest rate cuts if inflation eases. The Bank of Canada's last interest rate action was in July of last year, when it raised interest rates by 25 basis points. Canada became the first G7 country to cut interest rates, opening up a loose cycle. It is worth mentioning that the central bank has often "run ahead" of G7 countries in interest rate actions in recent years: in April 2022, Canada became the first country in the G7 to raise interest rates significantly by 50 basis points, announcing that it would begin tightening two weeks later.
Macklem Speech: Timing of Any Further Interest Rate Cuts Will Depend on Data
Tiff Macklem, Governor of the Bank of Canada (BoC), explains the BoC decision to lower the interest rate by 25 basis points to 4.75% after the June policy meeting and responds to questions from the press.
The Bank of Canada has fired the first shot of interest rate cuts! It may continue to cut in July! Short-term gains for USD/CAD have increased by over 50 points.
On June 5th, 2024, the Bank of Canada announced its first interest rate cut since 2020, lowering the benchmark interest rate by 25 basis points to 4.75%, a decision in line with market expectations. This move signifies that Canada has become the first central bank in the G7 to initiate an easing cycle of monetary policy, providing a new direction for global monetary policy.